Consumption Response to Seoul’s COVID-19 Shopping Coupons: Evidence from Consumer Data*

Seokjin Woo, Sangmin Aum, Dohyung Kim, Heyjin Moon, Soohyung Lee

Research output: Contribution to journalReview articlepeer-review

Abstract

This study measures the extent to which Seoul’s COVID-19 shopping coupon program affects individuals’ consumption. Unlike other COVID-19-related transfer programs, the Seoul Metropolitan government provides consumption coupons depending on income. We quantify the causal effect of Seoul’s program by comparing eligible and ineligible groups using a difference-in-differences method. We find that the program increased consumption by 18% while it was ongoing and by 6% afterward. We find substantial heterogeneity in the treatment effects concerning recipients’ income and consumption categories.

Original languageEnglish
Pages (from-to)231-250
Number of pages20
JournalKorean Economic Review
Volume38
Issue number2
DOIs
Publication statusPublished - 2022

Keywords

  • Consumption
  • COVID-19
  • Stimulus Payment

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